Closing Range Breakout

Indicator Description:
This tool tracks the closing price range of a trading session (like New York or London market hours) and highlights potential breakout opportunities. It shows:

Extended Range Lines: Drawn after the session closes, marking the high/low of the session's final hour.

Breakout Arrows: Appear when prices close above/below the range for a user-defined number of consecutive bars.

Session Background: Gray highlight during the selected market's closing hour.

It helps traders spot momentum shifts by focusing on price behavior relative to the closing range, with customizable alerts for confirmed breakouts.





How to Use:

Select Session: Choose your market's closing hour (e.g., New York/London).

Set Confirmation: Adjust how many closes are needed to confirm a breakout.

Watch Visuals:

Gray background = Active closing session

Blue range = Extended high/low from last session

Arrows = First breakout signal

Trade Signals: Price closing outside the range triggers alerts (labels update automatically).

Focus on breakouts with momentum, using the range as support/resistance.